Cash Sales in Chicago Remain Below National Average

by James F. McClister

New cash sales report says more of the same – we’re staying consistent.

In September, cash sales increased slightly despite the autumnal slump, but remain at relatively low levels, according to a new report from CoreLogic.

In recent months, cash investors have been seen fleeing the market, driving down the share of cash sales, but in September, that trend reversed slightly. Up a single percentage point from August, September cash sales made up 34.8 percent of total transactions. However, measuring year-over-year, which is generally the best way to evaluate such trends, cash sales actually fell nearly three percentage points.

September’s decline represents 20 months of consecutive year-over-year losses, bringing us closer to the 25 percent level common in pre-crisis years.

In Illinois, cash sales rose from 31 percent in August to 33 percent in September, keeping the state in a healthy territory.

Check out our graph below to see how we compare

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